Nervos Network Launches $30M USD Fund To Accelerate Blockchain Development

Blockchain, Investing, News | January 13, 2020 By:

Blockchain startup Nervos Network is investing $30 million into a new developer fund.

Nervos is a network of scaleable and interoperable blockchains built on top of an open network – which the company calls the Common Knowledge Base (CKB). CKB is built as a security anchor for all blockchains in the Nervos Network. It enables enterprises and application developers to decide what goes into the blockchain. Since launching its ‘Lina’ mainnet in November 2019, the Nervos team has been actively developing a number of blockchain-based solutions to help transform traditional industries. Most notably, Nervos is working with major financial institutions like China Merchants Bank International (CMBI) and Huobi to co-develop decentralized platforms and applications for financial services.

In a press release, Nervos Network announced a public grants fund to fuel ecosystem growth and development for CKB. To provide participating individuals, teams, and projects with the resources necessary to develop and deploy new solutions on the network, Nervos said that it is committing $30 million in grants to be awarded across multiple project categories, ranging from infrastructure development to decentralized applications.

“The new grants fund will allow Nervos to promote blockchain innovation and facilitate collaboration across the wider developer community,” the startup said. “Through the grants program, blockchain teams and projects will be able to make significant contributions toward building out the infrastructure of Nervos Network and help further expand the ecosystem.”

Kevin Wang, co-founder of Nervos, said that they believe that building a truly decentralized network requires the contributions and efforts of the entire blockchain community.

“As a bootstrapped, fully open source network, we want to empower anyone who shares a common vision to help build Nervos into a public resource for the decentralized economy,” Wang said. “The blockchain industry is rooted in open source philosophy, so it is incredibly important for us to build an inclusive ecosystem that reflects the visions and contributions of the people in it. We’re truly excited to see what the community has in store for the Nervos ecosystem.”